Gold Broke down after reaching a new high

Gold is moving in a channel and today it hit the top of the channel and broke down unable to exit the channel and also after a new high. I think Gold should move down from here and will stay in the channel

Start of a much awaited pullback

With the sword hanging on the neck of Goldman and whole financial industry awaiting a financial regulation, FOMC standing pat on the interest rates and the summer ahead, I think its time to see a pull back/correction in the indices.

Baidu hit a long term resistance

Baidu went from low 100's to mid 650s in a little over 1 year. That is definitely a Oomph run. It clearly hit a long term resistance. We just have to wait and see what the next move might be before it consolidates here. A pull back from here is definitely in the cards for Baidu.

Tech sector has had a great run

Tech sector ran from the lows of March 2009 to the dizzying heights of 2010. This is the time for some consolidation before it makes another move.

ERTS broke out with huge volume

From the blog that we posted yesterday, we mentioned that ERTS is about to break out. This was confirmed today when it actually broke out from a major downtrend with more than average volume.
It also happened that some trader went onto buy 60000 call spread for Jan 2011. I will post the link to the article here
http://www.reuters.com/article/idCNN1823719220100318?rpc=44

MGM On the verge of break out

MGM, what can we say about this company. A great story... Went from 2.69 in 1992 to a little over 100 in 2007, when the bull market peaked only to fall back to the levels of 1992 in March 2009. It took only 16 months to erase what it took to build in 16 years. With Tracinda Corp owning a majority of shares in MGM and willing to pump liquidity whenever needed into MGM, I think Kirk Kerkorian is willing to do what it takes to hold onto his stake in MGM unlike in the story of Ford where he had to sell his stake at 2$ of all which he bought at 8$ just a year before only to see it all comeback a year after.
MGM is on a partnership with the Dubai World to build the City Center, Las Vegas. CityCenter is a 16,797,000 square feet (1,560,500 m2) mixed-use, massive urban complex on 76 acres (31 ha) located on the Las Vegas Strip in Paradise, Nevada. The project was started by MGM Mirage; Dubai World became a joint partner during the project's construction phase. It is the largest privately funded construction project in the history of the United States.

Electronic Arts to break out

With Government trying to create programs and put money into the hands of people to spend, gaming industry will have to pick up. This can be observed across the board starting from the Electronic gaming industry to the Las Vegas gaming industry. Electronic Arts is a great stock and valued at almost 10 years low. This stock at this price is of great value. This will go up on its own or is a prime target for take over for any of the hand held device makers. I say Apple buy this company and integrate with Iphone.

XHB components on the rise too

TOL Brothers along with the XHB is poised to break out from a long term downtrend.

XHB on the rise

With the Fed keeping the interest rates low and the Government trying to bring down the unemployment rate lower from the existing 9.7%, I think its a great boost for the Home industry especially for the Home builders. I see that XHB the SPDR Homebuilders is trying to break out of the longterm downtrend.